Big data analytics: Finding value despite the hype

摘要

In many ways I liken the current Industrial Internet of Things (IIoT) hype to the original dot-com bubble 15 years ago. Although short-term expectations well exceeded short-term gains, no one can deny the longterm transformative power of the Internet. The IIoT may not bring dramatic transformation by 2016, but in 2020 or 2025, when we take a step back to see how far we have come, I believe the resounding response will be that the revolution was real. In the industrial sector, we have the benefit and curse of technology refresh rates typically measured in decades, and technology selection processes typically measured in months or years. This is a benefit, because the technology we buy is built to last and provides a return on investment (ROI) well beyond that of other industries. It is also a curse. Since we do not get new technology very often, when we get the chance we often bite off more than we can chew, are paralyzed by fear of the unknown, or seek out the new shiny toy.